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www.IllinoisDealers.com
Join our mailing list!
Do you know of other member dealership employees who should be receiving the IADA Electronic Bulletins? Let us know! Send an email to Meghan Sander (msander@illinoisdealers.com), Director of Communication, with the contact information of people who should be on our distribution list.
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2017 IADA OFFICERS
Chairman
Dan Roesch
Roesch Auto Group
Elmhurst
Vice Chairman
Pat Manning
Brad Manning Ford
Dekalb
Treasurer
Mike Ettleson
Ettleson Cad-Bu-GMC, Inc.
Hodgkins
Secretary
Rick Yemm
Yemm Auto Group
Galesburg
President
Peter Sander
IADA
Springfield
IADA Staff Contacts:
Ph# 1-800-252-8944
Pete Sander
President
Ext. 103
psander@illinoisdealers.com
Larry Doll
Legal
Ext. 105
ldoll@illinoisdealers.com
Mark Harting
Administrative Services
Ext. 110
mharting@illinoisdealers.com
Mike Healey
Member Services
Ext. 107
mhealey@illinoisdealers.com
Joe McMahon
Legislative
Ext. 113
jmcmahon@illinoisdealers.com
Meghan Sander
Member Communications
Ext. 109
msander@illinoisdealers.com
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Your IADA Partner
Moving Vehicle Registration into the future
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March 28, 2018 Volume 2018, Issue 3
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Illinois Legislature On Break Since Primary Election
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The Illinois Legislature is on break following the primary election and will return to Springfield on April 9th. IADA has testified on and is continuing to monitor several bills as we approach the second half of the spring session. There are still several bills of interest that we will update you on as to their status once the General Assembly reconvenes next month. |
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Important Message From SOS: Junk Designations On Non-Illinois Titles
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The Secretary of State's Office has advised IADA that vehicles with out of state titles bearing a junk designation or the equivalent are not eligible for an Illinois title. Many such vehicles have been coming from Kentucky. If you receive a vehicle with a red Kentucky title that states "MAY NOT BE ELIGIBLE FOR TITLING IN ALL STATES" at the top, it will most likely be ineligible for an Illinois title and instead will receive a junking certificate. For additional information from the Secretary of State's Office, please click here for sample of Red Kentucky Title and click here to read SOS memo. |
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Updates From NADA Las Vegas Convention
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NADA Chairman Mark Scarpelli, Raymond Chevrolet and Raymond Kia in Antioch, Ill., was recognized for his serving as NADA Chairman this past year and in his final remarks as NADA chairman, Mark Scarpelli saluted the nation's new-car dealers for their successful advocacy efforts on Capitol Hill fighting to preserve vehicle affordability for car buyers at every turn.
"Vehicle affordability is the air we breathe. Affordability is everything. Americans need cars - affordable cars - more than ever," Scarpelli said today in keynote remarks at NADA Show 2018 in Las Vegas. "If there's one group that got that message loud and clear, it was the Consumer Financial Protection Bureau."
"We stood up for our business model, for common sense, and for our customers' right to save money when they buy a car," Scarpelli said. "And I'm proud to tell you that we stood our ground and we prevailed. This was a great victory for NADA and for our customers."
Scarpelli, said NADA went on offense again to stop overly broad recall legislation.
"This legislation would have created a consumer trade-in tax for every recalled car on the road - even the ones with only minor defects like a peeling sticker," he added. "We averted legislation that could have cost consumers on average $1,200."
One of NADA's biggest challenges was tax reform, which again mobilized NADA's grassroots efforts, Scarpelli said.
The bill, which was signed into law in December 2017, preserved 100-percent deductibility on floor plan loans, increased the estate tax exemption, and preserved both the LIFO accounting method and advertising deductibility.
"The stakes for our businesses are enormous: When taxes increase, jobs at dealerships decrease; Our capital investments decrease; And prices for consumers increase," Scarpelli added. "If we had not preserved floor plan deductibility, a lot of dealerships would be paying more in taxes for years to come. Many would hope to simply break even. Many more would suffer crippling losses. Because the original tax bill slashed interest deductibility by 30 percent."
On the industry affairs front, Scarpelli, over his term as chairman, said he made it his personal mission to level with automakers concerning the "elephant in the room, also known as stair-step incentive programs."
"Make no mistake, dealers are proud to work with our manufacturers. We value our brands and our integrity above all else. So, if any factory program runs counter to that we shouldn't use it," he said. "Dealers and automakers can have the same goal. We just need to go about it in the right way. Let's sell our inventory in large volumes. Let's do it at competitive prices. Let's put a great customer experience first because if we do that the numbers will fall into place."
IADA congratulates Mark Scarpelli on his outstanding year in leading NADA! |
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NADA's 2018 Chairman is Wes Lutz, Extreme Dodge-Chrysler-Jeep-Ram in Jackson, Mich.
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Lutz offered reassurance to the nation's auto dealers that interest in vehicle ownership is growing globally. He said that even when large-scale electrification and autonomous driving arrive in the coming years, the role of the franchised auto dealer will remain vital.
"Just because a new system pops up doesn't mean the old one is dead," Lutz told the convention audience.
The automobile still permeates life in the United States and globally, he said, with more than 250 million vehicles on the road in the U.S. and 90 million new-vehicle sales globally in 2017. Lutz declared that the love affair with the automobile is as strong as ever.
Although change is inevitable, the incoming NADA chairman said, it should be embraced and not feared, just as auto dealers embraced the advent of the Internet in the 1990s. Just as technological advances in cellular communications transformed mobile telephones into indispensable and ubiquitous digital assistants, he said, so too will technology transform the automobile.
He said, "Technology also makes owning a car better than it used to be."
NADA 2018 Chairman Wes Lutz will be one of the featured speakers at IADA's Annual Convention to be held April 11-15, 2018 at the Fairmont Scottsdale Princess, Scottsdale, Arizona.
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AIADA
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During its Annual Meeting, AIADA presented Chicago dealer Mike McGrath with the 2018 David F. Mungenast Sr. Lifetime Achievement Award. The David F. Mungenast Sr. Lifetime Achievement Award is presented by AIADA's Board of Directors annually to an industry leader who possesses a similar community spirit and devotion to the international nameplate auto industry as its namesake. Our IADA congratulations to Mike McGrath on his industry service!
AIADA on Sunday announced that Salt Lake City, Utah, dealer Brad Strong will serve as its 2018 Chairman. He expressed concerns that trade wars aren't abstract fights between nations and political parties. Trade wars have real consequences, and unfortunately for us, they can have real casualties," Strong said. |
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TMQDA Recognizes Sam Roberts, Roberts Motor Company, Alton, as IADA's Nominee for the Time Magazine's Quality Dealer of the Year Award
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Roberts is a big supporter of Lewis & Clark Community College in Godfrey, Illinois, which offers careers in automotive technology. "I recently received Ford's approval to install their ACE [Automotive Career Exploration] program in the automotive department," he said. "This will help future technicians gain valuable Ford certifications while attending college."
He added, "I feel that being a part of the fabric of our community is crucial to building a successful business. We actively participate in all aspects of our community. We are known as one of the most reliable contributors in our market."
IADA congratulates Sam Roberts on this well deserved award! |
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IADA CATA SCOTTSDALE CONFERENCE TO GET UNDERWAY IN TWO WEEKS
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Still want to get away from the long Illinois winter, the IADA CATA Scottsdale Conference is set for April 11-15, 2018, at the Fairmont Scottsdale Princess Resort. Call our office to determine room availability. The AAA Five Diamond Fairmont Scottsdale Princess provides the perfect setting to enjoy the blooming Sonoran Desert.
With four top-ranked Arizona restaurants, inspiring indoor and outdoor meeting facilities, innovative spa, fitness programs, six sparkling pools, including the all-new Sunset Beach, two newly renovated 18-hole championship golf courses, one of which is home to the Annual PGA Tour Waste Management Phoenix Open - this highly acclaimed Scottsdale resort is truly an experience like no other.
Speakers include: 2018 NADA Chairman Wes Lutz and SunTrust Banker, Rick Schmersal, meetings are also planned for the IADA and CATA Board of Directors during the conference. A golf outing is scheduled for the TPC Scottsdale located adjacent to the Fairmont Scottsdale Princess Resort.
See the attached flyer for registration information. |
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NADA Tax Guide Released
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NADA recently released to its members A Dealer Guide to the Tax Cuts and Jobs Act of 2017. The guide, available online at www.nada.org, summarizes many of the business and individual changes brought about by the tax reform law signed by President Trump on December 22, 2017, and represents the collective drafting efforts of three accounting firms (Boyer & Ritter, LLC; Crowe Horwath LLP, and Dixon Hughes Goodman LLP).
Dealers are encouraged to share the guide with tax advisors to assist with tax planning and reporting responsibilities.
The Tax Cut and Jobs Act of 2017 (TCJA), the most complex and comprehensive tax bill in more than 30 years, contains many technical provisions that will affect dealerships for years to come. Following a brief overview of the legislative process that produced the TCJA, the guide is organized in two sections, "Business Tax Considerations" and "Individual Tax Considerations." Each section contains an alphabetical listing of key provisions that are relevant to franchised automobile and truck dealerships.
The guide does not address every provision of the Internal Revenue Code that affects franchised dealers, nor does it provide or intend to provide legal or accounting advice on the subject matter. It is essential that dealers consult with their tax practitioners concerning their specific federal income tax. |
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